Loss of Use

Loss of Use & Additional Living Expenses – or having somewhere to go after a catastrophic loss

All Property Insurance comes with some level of ‘loss of use and additional living expense’ coverage. This part of the policy will pay for things like eating out after a fire has destroyed your kitchen or for renting a furnished apartment while your home is being rebuilt after a total loss if you are a homeowner.

It is important to keep in mind that there are limits related to this coverage like any other. Generally, this coverage is only available for 12 months and is 20% of the value of your home, listed in ‘Coverage A’ on your policy. Make sure to read your policy to confirm your coverage limits and lengths of time available to use this coverage. Or call your agent for a walk through of your policy.

If you are a landlord, this coverage will help provide some lost rental income while your property is being rebuilt. Generally this coverage starts out at 10% of the value of your property , we can help you figure out if you should consider buying additional coverage.

This coverage is even available to renters, and provides money to cover extra living expenses while looking for another place to live.






H/I/loss of use/MB